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Why does the price of Bitcoin go up after the harving well the short sweet Finance bro answer to this is the supply of freshly mined Bitcoin is cut in half and so with the same amount of demand out there the price goes up it explains things from a price perspective but what

About a value perspective well a miner converts a quantity of electricity exchanged through a machine to earn a quantity of Bitcoin so his electrical Bill stays the same but if the Haring comes along it cuts the amount of Bitcoin in half so now he needs to use twice as much electricity to produce

That same Bitcoin this means that Bitcoin has an electron value so if it’s 400,000 Kow to produce a Bitcoin now you need 800,000 KW the electron value of Bitcoin has doubled and so for miners it’s the doubling whether it’s the finance Bros it’s the Haring

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Bitcoin nodes what are they and why are they important and what is the history of them let’s have a look Bitcoin nodes store all of the transaction data of the blockchain and who was the first node that would have been Satoshi he would have shared all of the transaction data

Of the blockchain up to date with everyone else you can think of the nodes as the digital decentralized expansion of the Bitcoin network but the crazy thing is that’s not how Bitcoin know noes originally were functioning in the beginning you were mining managing your wallet and storing all of the data

Within the node itself let’s have a look when Satoshi began running his node he would have run the software produced his own blocks of Bitcoin stored all of that transaction data and managed the money of his wallet what’s happened now is all of these different roles have segregated into different Industries mining running

Pools managing nodes and wallet applications

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Is Bitcoin a crypto no Bitcoin uses cryptography as a mathematical layer to defend your monetary data otherwise known as Bitcoin take the example of WhatsApp you’ve got your endtoend encryption which means you send private information through the public internet with somehow nobody else being able to supposedly read it Bitcoin itself uses

What we call a hashing function to encrypt the data within the block blockchain and that is that there is an input the hashing function sh 256 and two to the power of 256 potential outputs so it’s almost impossible to guess the input and so we can communicate freely and protect our

Monetary data within the Bitcoin Network Bitcoin uses cryptography as both an attack vector and a defense as a symbiotic pair within the Bitcoin Network there’s a lot more to learn

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Bitcoin has a really interesting philosophical lens the physical energy and Mining side of the network is all about you and your strength as an individual in the physical world which is very apparent in our laws of nature on the digital side of Bitcoin it’s all about the network the strength of the

Collective and the number of connections that you make whether socially financially in the lightning Network it’s about your channels and so that comparison between the individual and the collective is very interesting to understand and to observe for example the individual minor versus the collective network of all

Miners if he’s producing 5x a hash of hash power and the network is 500 he’s earning 1% of all the Bitcoin Network Revenue his individual contribution is what he earns in return Bitcoin brings about a world where your individual contribution is recognized and valued